digiBlitz to raise $100 mn through venture capitalists

New Delhi, Nov 23: digiBlitz Technologies, the US-based IT firm, has said it will raise about 100 million dollars through venture capitalists over a period of two years.

''We will raise about 100 million dollars through venture capitalists in the next two years,'' company President Suresh Balabiseganm told here. He, however, did not divulge the name of the venture capitalists, saying ''the negotiations are on with the various firms to this effect.'' The money will be used to market its pioneering software 'eBlitz', which was recently launched, primarily to help the government implement e-governance projects. ''We have got a positive response from the governments of Rajasthan, Tamil Nadu and Goa for this pioneering software,'' he said adding that the company now plans to approach the governments of Haryana, Punjab and Uttarakhand.

eBlitz will make it easier for the government departments to implement their own e-governance procedures while complying and integrating with the Centre, Mr Balabiseganm said.

''There is a huge disconnect in various project initiatives across the state and central government departments which enforces the challenge of having an integrated e-governance process,'' he said.

The various state and central departments like infrastructure, health care, insurance, tourism, education, defence, intelligence, police would benefit from digiBlitzs solution, he added. Mr Balabiseganm said the company also plans to launch its initial public offering (IPO) by 2012.